Taiwan stocks rose, led by United Microelectronics Corp (UMC,
UMC also gained after some investors said its stock lagged its rival Taiwan Semiconductor Manufacturing Co (TSMC,
"Taiwan Semiconductor's share price has been doing quite well the past few days, while UMC's has lagged," said Karen Lin, who manages NT$300 million (US$9 million) in stocks at Prudential Securities Investment Trust Co (保誠投信).
The TWSE Index rose 34.42, or 0.9 percent, to 3845.62. For the week, the index rose 1.2 percent. Within the index, 297 stocks rose, and 119 fell. The total value of trade was NT$51.9 billion (US$1.5 billion), a tenth higher than the six-month daily average of NT$47.3 billion.
UMC rose US$0.70, or 2.4 percent, to NT$29.70 on optimism earnings will improve in the fourth quarter from the preceding three months. Before today, its shares gained 24 percent since Oct. 4, less than rival TSMC's 35 percent gain. TSMC fell NT$1, or 1.7 percent, to NT$58.5.
Acer Inc (宏電) rose US$0.35, or 3.2 percent, to NT$11.15. The computer maker said earnings may break even in the fourth quarter as sales to the Middle East rise.
Baodao Commercial Bank (寶島銀行) fell US$0.03, or 0.7 percent, to NT$4.34. Jih Sun Securities Co (日盛證券) will form a holding company that will issue new shares to pay for Baodao. Juh Sun rose US$0.30, or 2.6 percent, to NT$11.90.
Delta Electronics Inc (台達電子) fell US$0.70, or 2 percent, to NT$35.20. The largest maker of power systems for personal computers said it's recalling units from Cisco Systems Inc because they overheated. The recall hasn't affected its relationship with Cisco or orders from the biggest maker of computer-networking equipment, Delta said.
Yuen Foong Yu Paper Manufacturing Co (永豐餘) rose US$0.10, or 1.4 percent, to NT$7.30. Taiwan's largest maker of paper products ended a takeover of rival Chung Hwa Pulp Corp (中華紙漿).
A Chinese aircraft carrier group entered Japan’s economic waters over the weekend, before exiting to conduct drills involving fighter jets, the Japanese Ministry of Defense said yesterday. The Liaoning aircraft carrier, two missile destroyers and one fast combat supply ship sailed about 300km southwest of Japan’s easternmost island of Minamitori on Saturday, a ministry statement said. It was the first time a Chinese aircraft carrier had entered that part of Japan’s exclusive economic zone (EEZ), a ministry spokesman said. “We think the Chinese military is trying to improve its operational capability and ability to conduct operations in distant areas,” the spokesman said. China’s growing
Nine retired generals from Taiwan, Japan and the US have been invited to participate in a tabletop exercise hosted by the Taipei School of Economics and Political Science Foundation tomorrow and Wednesday that simulates a potential Chinese invasion of Taiwan in 2030, the foundation said yesterday. The five retired Taiwanese generals would include retired admiral Lee Hsi-min (李喜明), joined by retired US Navy admiral Michael Mullen and former chief of staff of the Japan Self-Defense Forces general Shigeru Iwasaki, it said. The simulation aims to offer strategic insights into regional security and peace in the Taiwan Strait, it added. Foundation chair Huang Huang-hsiung
PUBLIC WARNING: The two students had been tricked into going to Hong Kong for a ‘high-paying’ job, which sent them to a scam center in Cambodia Police warned the public not to trust job advertisements touting high pay abroad following the return of two college students over the weekend who had been trafficked and forced to work at a cyberscam center in Cambodia. The two victims, surnamed Lee (李), 18, and Lin (林), 19, were interviewed by police after landing in Taiwan on Saturday. Taichung’s Chingshui Police Precinct said in a statement yesterday that the two students are good friends, and Lin had suspended her studies after seeing the ad promising good pay to work in Hong Kong. Lee’s grandfather on Thursday reported to police that Lee had sent
A Chinese ship ran aground in stormy weather in shallow waters off a Philippines-controlled island in the disputed South China Sea, prompting Filipino forces to go on alert, Philippine military officials said yesterday. When Philippine forces assessed that the Chinese fishing vessel appeared to have run aground in the shallows east of Thitu Island (Jhongye Island, 中業島) on Saturday due to bad weather, Philippine military and coast guard personnel deployed to provide help, but later saw that the ship had been extricated, Philippine navy regional spokesperson Ellaine Rose Collado said. No other details were immediately available, including if there were injuries among
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